Bitcoin, Ethereum, Dogecoin rally amid $1.3 billion in ETF inflows in two weeks: 'Can we think the path to $80,000 is open?' a trader asks

Cryptocurrency markets are on the rise, with spot Bitcoin ETF inflows gaining momentum this week.

what happened: At the time of writing, major cryptocurrencies are trading high.

Prices as of 4pm ET:

Notable statistics:

• morgan stanley Announced $270 million investment in Grayscale Bitcoin ETF.
• The Spot Bitcoin ETF recorded $1.3 billion in net inflows over the two-week period, offsetting the entirety of April's negative flows. This gives him a net positive inflow of $12.3 billion since inception.
• IntoTheBlock's data highlights that while the exchange's net flows fell by 56%, large trading volume increased by 9% to $56.7 billion. A notable development was noted that Bitcoin holders are making profits at current levels. Currently, 93% of holders are making profits, while 4% of holders are in losses.
• According to data from Coinglass, $39.8 million worth of Bitcoin was liquidated in the past 24 hours, of which $29.8 million was short-term liquidation. Total short liquidations in cryptocurrencies are $80.6 million, compared to long liquidations of $35.8 million.

Notable developments:

Top gainers:

Also read: Former Goldman Sachs executive Raul Pal answers the important question: “When should I sell cryptocurrencies?”

Analyst's note:Bitcoin OG” Luciano, aka Lucky He noticed something different on the Bitcoin chart. It has struggled to stay in the $60,000 range for long periods of time, compared to the previous cycle's high of around $69,000 and this time it easily held above $60,000. “This typical BTC behavior shows that it is preparing for something big,” he wrote. He also predicts that the biggest altcoin trade is still around the corner.

Full-time trader and analyst diagonal He tweeted that Bitcoin is at its “biggest price inflection point” and that bulls' next target is a strong close near $69,000.